For Federal Reserve Chairman Ben Bernanke, 2009 may be a tough year as political battles pile on top of tough economic challenges.
Bernanke must juggle a host of problems as he tries to revive the economy. With the U.S. unemployment rate at 9.4 percent and still climbing, he faces the challenge of recovering from an 18-month-old recession with unconventional policies that some worry will ignite inflation.
On the political front, he has the daunting task of convincing Congress the Fed deserves a leading role in a restructured financial oversight system even as he addresses criticism of Fed failings before the financial collapse and some actions since.
Connecticut Senator Christopher Dodd said giving the Fed more authority “is like having a parent giving his son a bigger, faster car, right after he crashed the family station wagon.”
Still, economists give Bernanke an 8 out of 10 for his handling of the economic crisis, according to a Reuters poll and he has the support of Congress members who value his steady hand during the crisis. President Obama said “he has done a fine job under the circumstances.”
The end of his term is just six months away — do you think he deserves to win another four years running the Federal Reserve?
Trackback
5 comments so far
Yes, he did a great job and pulled us out of otherwise deep recession and panic.
- Posted by NaThe Fed chairman is traditionally bipartisan and there is no need for Obama to replace Bernanke at a time when the latter will be laden with more responsibilities, albeit described as powers, to supervise financial institutions against failure.
If Summers as rumoured would take over, I hope he may be appointed first as Fed’s vice-chairman during the second term of Ben Bernanke. The global financial markets cannot afford to suffer another turmoil, caused this time by chaotic leadership.
- Posted by MinerAre you kidding? The supposed expert on depression took us right into one. Kick him out.
- Posted by IanYes it is time for Mr. Bernanke to go. He has worked hard, has a firm grip on history but hasn’t done much to further the kind of change that will be disruptive enough to regain our world dominance in manufacturing and leading to JOBS we can beleive in. So if I might be so bold, in the tradition of Dick Cheney… I have searched exhaustively and I am the best person for the job…he he he
- Posted by DanOHe’s done. Don’t ask Dick Cheney to find his replacement.
- Posted by DanO